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Retail analytics market value to reach USD 10.34 billion by 2023

Industrial Market Research

The Global Retail Analytics Market was valued at USD 3.78 billion in 2017, and is projected to reach USD 10.34 billion by 2023, registering a CAGR of 18.26% over the forecast period of 2018-2023.

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Retailers have to analyze terabytes of data to accurately understand consumer needs. Retail analytics helps predict a range of consumer preferences, from simple demands to unique tastes.

Organizations in the retail sector are using business intelligence (BI) and retail analytics tools, in areas of customer intelligence, merchandising intelligence, and operational intelligence.